How to Buy a House in your 20s! Easy to implement savings!

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Google Sheet Link to plan your finances – https://docs.google.com/spreadsheets/d/18WbdTP0hRntyNch0KDt1SzHx4Y2hlbtVa022EQiY-8w/edit?usp=sharing

Links to References:
Money Saving Expert Mortgage Calculator – https://www.moneysavingexpert.com/mortgages/how-much-mortgage-borrowing/
Halifax Mortgage Calculator – https://www.halifax.co.uk/mortgages/mortgage-calculator/calculator/?WT.ac=calcintnewhome
RightMove – https://www.rightmove.co.uk/

What’s this video about? w/ Timestamps

How to buy a house in your 20s…

Do you want to buy a house in your 20s but think it’s impossible? If so, this video is for you. I’m not promising a miracle in this video but we are going to get practical.

So, this is what we will cover in this video –
Knowledge about buying a property such as:
Finding out how much you might be able to borrow for your Mortgage – 01:01
How to create a budget that covers your current expenses and sets targets for saving towards buying your home – 04:39
Creating a spreadsheet that you can use to document your budget, your saving goals and your expenses (there will be a link to a spreadsheet I’ve made. I’m not master spreadsheet creator so make your own if you want) – 04:59
All the expenses that form part of the property purchase experience, other than the deposit amount you need – 05:52
Buying a House Cost – 07:32
House Moving Costs – 07:55
How to save more money – 09:39
How to change your mindset on buying a house – 10:44
When to start looking at properties – 13:25
How to engage with Estate Agents – 16:55
How to make an offer – 18:01
What to do when you have an offer accepted – 19:24

Throughout this video, I may show you examples and I need figures to base this off. So, I’m going to base the figures on a joint mortgage application, of two people, who each earn £21,000 per year. This is below the average salary in the UK as that sits at £30,000ish. I know that in your twenties you are either working in retail, which would put your salary between £12,000 – £20,000 if you were full-time, dependant of role. Or, you might have an office/professional type role that could net you anything from £18,000 to whatever is possible. But let’s use £21,000 per person , which is £42,000 between you and you just need to substitute this figure for whatever amount of money the two of you earn.

Buying A Home Money Saving Expert, How to Buy a House in your 20s! Easy to implement savings!.

How To Save Money Looking For Christmas

Also, kids enjoy saving cash in their own piggy banks. Free yourself from the debt cycle. You have a variety of alternatives for conserving money.
When you make money what’s the very first thing you pay?

How to Buy a House in your 20s! Easy to implement savings!, Play most searched videos related to Buying A Home Money Saving Expert.

Conserve Money On Your Insurance – Five Simple Actions To Big Savings

Always watch for these easy conserving opportunities. When you prepare your shopping you will spend less and hence conserve cash. These charges can develop a huge costs that you might be totally unprepared for.

We encounter many things everyday and we invest cash on them delicately. Later on, at the end of the month, we question where we invested so much. For this reason, tracking money is an efficient way to understand your spending routines and your mindset towards conserving. This will likewise assist you to understand which expenditures are essential and which can be avoided. Do you, for instance, purchase coffee every early morning when you can get it totally free in your office?

The very same approach uses with your charge card as with your bank. Credit cards usually have fairly high rates of interest, you truly would be doing yourself a favour by paying them off as quickly as possible.

It is unavoidable for anyone to invest cash daily, to procure vital things they require like foods and other individual necessities. In line with your Money Saving strategy, you can look for some locations and shops providing you more affordable goods, in a carefully same quality you desired.

Use as much natural light as possible in your house. Aspect of the design of your spaces and how you can direct more natural light into dark spaces. Individuals don’t realize How to Save Money on utility bills in some cases as the solutions are not obvious. Think about utilizing and installing skylights mirrors to show light.

This is truly part 2 of paying yourself initially but worth discussing here. The advantages of joining your companies group RRSP or 401K strategy are 2 fold. 1) it can assist you construct a very considerable savings over the long term, especially if you’re starting young. 2) your contributions are tax deductible. Since those are tax deductible as well, you’re actually fortunate If your employer matches contributions. That means you get double the contributions and double tax deductions. Flight that lap of luxury!

There are many other ways to conserve cash and it is undoubtedly something that can be achieved. Handling money and living is something that is within the control of every person. All it takes is a little determination and once people end up being identified to have a much better life, they in fact manage to do so. Nearly everyone can learn how to conserve; they simply need the right frame of mind to start saving.

Follow these suggestions and get low-cost life protection without investing a lot of cash. In reality, these suggestions alone could reduce your grocery expense by 25-30% each week! I practically forgot to mention the rewards!

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